From Business Times – Petra Energy seeks partners for oil fields


Dateline 2011-05-16:

Integrated oil and gas brownfield services provider, Petra Energy Bhd, is in the process of identifying partners to form a consortium to participate in the development of marginal oil fields.

Its executive director/chief executive officer, Kamarul Baharin Albakri, said the company was now moving into the next level to be a participant in a consortium.

“Once we become a consortium member, we will split the responsibility of jobs among the members,” he told reporters after the company’s annual general meeting here today.

Malaysia has 106 marginal oil fields with an estimated 580 million barrels of oil.

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